Recession: you and your company

[Cracker]

  On 1/20/2009 at 4:18 AM, Vega said:

which industry are you from? just want to have a feel which industries has better resistence to this down turn. This is the main purpose for me to start off this topic. :-)

 

 

Oops sorry....allow me to repost

 

From Consumer Electronics industry.

Will spent the first 15 days of Year of Ox at home due to longer plant shut down....those w/o leave will be given advanced leave. No information regarding wage increment or reduction yet for 2009....but should see some "chop chop" ard Mar~May.

[Syshi]

  On 1/20/2009 at 4:46 AM, Cracker said:

Oops sorry....allow me to repost

 

From Consumer Electronics industry.

Will spent the first 15 days of Year of Ox at home due to longer plant shut down....those w/o leave will be given advanced leave. No information regarding wage increment or reduction yet for 2009....but should see some "chop chop" ard Mar~May.

 

Wah... lucky... mine also RND / Mfg of IT/Warehousing product... even got leave, the company will still deduct... unpaid leave... seems more like cost cutting measure...

Anyway, 'chop chop' also coming in Feb...

[DarkLord]

A lot of chopping sia.. I am still under probation in current job..

[Mivec9]

  On 1/20/2009 at 5:52 AM, DarkLord said:

A lot of chopping sia.. I am still under probation in current job..

 

indeed, esp those in manufacturing. One of my friends in semicon had some cuts already. This is due to shrinking demand for consumer products, hence lesser production required.

 

[Robo]

marine industry alot of project is either cancelled or postponed indefinitely.. heard from my dad the yards in indonesia and china is like a super mkt. go there choose pay and go.

[Key_word07]

Chemical Manufacturing.

 

Nothing changed. Got AWS. Heard alot of our customer on long shut down. More or less affected us.

Hopefully no paycut after CNY.

[Sparespares]

semicon, below activities in chronological order:

-headcount freeze

-pay freeze

-promo freeze

-increment freeze

-long shut downs

-cut headcount

-somemore shutdowns

-going 4 days work week

-can accum -ve leave till certain days

-then pay cut

 

 

[Little_prince]

Aviation-MRO

 

still hiring( selectively) and still got bonus ( slightly reduced) and aws and service bonus.

 

but this coming yr stil yet to be seen...

[Bluemice]

Optics / Electro-optics

 

- headcount freeze

- Biz slowing down ... soon

- Heng still hv increment + AWS + bonus

 

mice

[Zizou]

'recession-proof' utilities guy here.

this recession debunks the phrase above. freeze headcount for a start. pay cut next.

 

ever since i joined the workforce in '98 its been one recession after another for me.

i remember during recruitment in that year some friends even got retrenched before first day of work, after signing letter of acceptance

 

dot com bust - asian currency plunge - sars... now this....seems like cursed

 

but this current one really special. Could be as bad as all the previous combined

 

 

[Albeniz]

During the last few bad times, some students were given scholarship top-ups but ended not requiring to serve the bonds when they graduated as the company couldn't afford to hire them.

Edited January 20, 2009 by Albeniz

[Longg8]

Banking industry

Headcount freeze

Promotion freeze

Increment freeze

Senior Ppl pay cut

Retrenchment

rushing to raise capital

seeking bailout

further qtrly losses

Verge of being nationalised.....

 

hahaha...the above points apply to all the banks, worldwide.

Edited January 20, 2009 by Longg8

[Latka]

Container Shipping

 

EP Carriers closing down for business end of this month.

[Kingcopa]

Construction Industry (M&E services)

- headcount freeze

- no bonus

- increment have but slash (Managers n above all pay freeze)

- travel restriction unless realli neccessary

- Many big projects on hold thus affecting us.

- No D&D

 

Not yet feel the full impact yet. most likely can feel it in 2nd Q

[Vega]

Yesterday my coy finally announce cutting head count. 5% of work force. No increment for the next fiscal year. more heads may roll if the situation get worst which i think it will. What a day to start CNY......Sian......

[Porche]

me Semicon industry

 

no bonus, no increment. Company can tong another few mths nia....if still no customer siao liao lor

[Kelpie]

  On 1/19/2009 at 1:37 PM, Vega said:

So far, what effect has this recession affected you and your company? no need to put company name, just which industry will do.

 

For me, from IT industry. All head count freeze. no traveling except rev generating activities. No pay cut.........yet (hopefully). Last quarter still see business growing but this quarter will be bad. :-(

 

Just started on my own this year and it happened to be recession. Think I will spend more quality time with family and to build rapport with counterparts. Singapore market too small, have to go M.East to find opportunities. Business likely to be flat for this year.

 

Regards,

[Freestylers09]

mine not sure also sia..only see director and above volunteered cut pay,5-15% the most

 

but still hiring coz more projects aquring

 

year end report..still in good shape..debt level also in better position,income ,revenue also increasing..

 

thats why also not sure what's what..

 

btw in property sector